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Friday, April 3, 2015

If trading on Wednesday, the first day of the new quarter, was
largely forgettable, the follow-up wasn't much of an improvement either.

On Thursday, the Straits Times Index displayed no verve or clear
direction, the low volume of 1.4 billion units worth S$926 million one
indication of the terminally dull phase the market now finds itself in.
It did however, manage a 6.7-point rise to 3,453.75.

The unit average of S$0.66 suggested traders had to resort to punting
the pennies to overcome boredom, an assessment that proved accurate
after conversations with dealers.

"Is the market open today?" asked one wit, adding that with the
market being closed on Friday for Good Friday, and with a key US jobs
report due to be released that day, it probably made sense for traders
to stay out for the time being. Whatever the case, the broad market
excluding warrants chalked up 225 rises versus 188 falls. For the week,
the STI was up about 3 points.

Not surprisingly, property and hotels firm IPC Corp leapt into the upper
echelons of the volume list after news of general offer by businessman
Oei Hong Leong at S$0.17 per share. The counter gained S$0.028 or 16 per
cent at S$0.20 on volume of 56.7 million, leading some observers to
suggest the market thinks a counter bid could be in the offing.

Tuesday, March 31, 2015

THE following stocks had announcements or developments that could affect trading activity on Tuesday.

CCFH: The company intends to diversify into fund management,
helicopter leasing, and solar plants in the Caribbean islands.

Sino Construction: Its share price rose 20.7 per cent to 3.5
Singapore cents on Monday, after the company said it would raise S$6.5
million through the placement of 262 million new shares.

IPC Corporation: The company is in negotiations to sell its remaining
seven hotels in Japan. The proposed sale price for the properties is in
the region of S$150 million subject to agreement between the parties.

Keppel Corp: Its shareholding in Keppel Land had inched up 0.5
percentage point to 93.9 per cent by 5pm on Monday. This is still 1.6
percentage points short of the 95.5 per cent compulsory acquisition
threshold for the higher offer price of S$4.60 per share to kick in. The
final closing deadline of the offer is 5.30pm on March 31.

Ascendas Real Estate Investment Trust (A-Reit): It has completed the
acquisition of The Kendall at 50 Science Park Road for a purchase
consideration of S$112 million from Singapore Science Park Ltd, a wholly
owned subsidiary of Ascendas Group, the sponsor of A-Reit.

Monday, March 30, 2015

SINGAPORE share prices opened lower on Monday, with the Straits Times Index down 7.27 points to 3,442.83 as at 9.01 am.

Some 84.2 million shares worth S$59.2 million changed hands, with gainers outnumbering losers 75 to 73.

This comes as Asian markets got off to a sluggish start in a week
book ended with Easter holidays across the world and a US jobs report
that could impact the timing of the first hike in interest rates there,
according to a Reuters report. Tokyo shares opened almost flat, up 0.05
per cent, or 9.58 points, at the start on Monday, while Australia shares
fell amid a slump in crude oil, sliding one per cent by 10.54 am Sydney
time (7.54am Singapore time).

DESPITE the torrential rain and claps of thunder, few in the crowd
budged. Some had waited overnight, many others arrived before the crack
of dawn.

The more than 100,000-strong crowd were united in objective - to bid a
final farewell to their first prime minister, Lee Kuan Yew, as his
cortege travelled from Parliament House in the Central Business District
to the National University of Singapore (NUS) campus in Kent Ridge.

It was the grandest of send-offs for the revered 91-year-old, who
died last Monday at the Singapore General Hospital after a long battle
with severe pneumonia.

Fighter jets roared in the skies above and howitzers lined up on the
Padang fired a 21-gun salute - an honour usually given only to sitting
heads of state - at the start of the procession's 75-minute journey on
Sunday.

Two navy patrol ships staged a ceremonial sailpast off the Marina
Barrage and sounded three prolonged horn blasts of 10 seconds each.

All along the 15.4km route that passed through the heart of the city,
Singaporeans cheered Mr Lee's name and waved the country's flag when
they saw his casket, which was covered by the national flag and
protected by a tempered glass case atop a two-wheeled gun carriage.

Pulled by a ceremonial Land Rover, the cortege passed many major
landmarks such as City Hall, Old Parliament House, the Singapore
Conference Hall and the NTUC Centre.

The cortege moved through Tanjong Pagar - where he was a Member of
Parliament for 60 years - and then through the Jalan Bukit Merah and
Commonwealth neighbourhoods.

At the University Cultural Centre (UCC) in NUS, the Singapore
Symphony Orchestra performed Samuel Barber's Adagio on stage as the
casket was carried into the hall.

More than 2,200 guests were already seated inside, including leaders
and former leaders from 23 countries such as Japanese Prime Minister
Shinzo Abe, India's Narendra Modi, Australia's Tony Abbott and former
United States president Bill Clinton.

Delivering the first of 10 eulogies at the three-hour service, Prime
Minister Lee Hsien Loong, the elder of Mr Lee's two sons, described the
days since his father's passing as a "dark week" for Singapore.

PM Lee, who struggled to fight back tears a number of times as he
paid his tribute, said that while "the light that has guided us all
these years has been extinguished", Mr Lee's principles and ideals would
continue to invigorate the government and guide the people.

"His life will inspire Singaporeans, and others, for generations to
come. (He) once said that 'we intend to see that (Singapore) will be
here a thousand years from now. And that is your duty and mine'. Mr Lee
has done his duty, and more. It remains our duty to continue his life's
work, to carry the torch forward and keep the flame burning bright,"
said PM Lee.